Stand-out Q – cash ISA withdrawals…
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Can my client withdraw cash from their ISA in 2018/19 and top it up without affecting their £20,000 limit?
From 6 April 2016 an individual will have the ability to top up withdrawals from ISAs provided certain requirements are met.
The Budget 2015 announced that it would be possible to make cash withdrawals from an ISA and make a payment back to the ISA without this top-up counting towards the subscription limit for the tax year. The conditions are that the ISA must allow top-ups and that the top-up must be made within the same tax year as the withdrawal.
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